Question
Cash Dividends Dabrowski, Inc. issued 7,100 shares of common stock, all of the same class; 3,900 shares are outstanding and 3,200 shares are held as
Cash Dividends
Dabrowski, Inc. issued 7,100 shares of common stock, all of the same class; 3,900 shares are outstanding and 3,200 shares are held as treasury stock. On December 1, 2019, Dabrowski's board of directors declares a cash dividend of $1.75 per share payable on December 15, 2019, to stockholders of record on December 10, 2019.
Required:
Prepare the appropriate journal entries for the (a) date of declaration, (b) date of record, and (c) date of payment. If no entry is required, choose "No entry required" and leave the amount boxes blank.
| (a) | (Accounts Receivable,Cash, Dividends Payable, No entry required, Retained Earnings (or Dividends) | ||
| (Accounts Receivable,Cash, Dividends Payable, No entry required, Retained Earnings (or Dividends) | |||
| (b) | (Accounts Receivable, Cash, Dividends Payable, No entry required, Retained Earnings (or Dividends) | ||
| (Accounts Receivable, Cash, Dividends Payable, No entry required, Retained Earnings (or Dividends) | |||
| (c) | (Accounts Receivable, Cash, Dividends Payable, No entry required, Retained Earnings(or Dividends) | ||
| (Accounts Receivable, Cash, Dividends Payable, No entry required, Retained Earnings (or Dividends) |
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Corporate Finance A Focused Approach
Authors: Michael C. Ehrhardt, Eugene F. Brigham
6th edition
1305637100, 978-1305637108
